MGIC, Juniper Networks Slide into Wednesday’s 52-Week Low Club
MGIC Investment Group, Celldex Therapeutics, Juniper Networks, and Healthcare Services Group all posted new 52-week lows on Wednesday.
April 18, 2018: Here are four stocks trading with heavy volume among 15 equities making new 52-week lows in Wednesday’s session. On the NYSE advancers led decliners by about 8 to 7 and on the Nasdaq, advancers led decliners by about the same ratio.
MGIC Investment Corp. (NYSE: MTG) traded down about 6.5% Wednesday to post a new 52-week low of $10.07 after closing Tuesday at $10.77. The stock’s 52-week high is $16.21. Volume was more than double the daily average of around 4.2 million shares. The company reported uninspiring first-quarter results this morning.
Celldex Therapeutics Inc. (NASDAQ: CLDX) fell by about 7.6% Wednesday to post a new 52-week low of $0.72 after closing at $0.79 on Tuesday. The 52-week high is $3.42. Volume of about 9 million was more than four times the daily average of about 2 million. The company continues to get beaten up following a failed breast cancer drug study.
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Juniper Networks Inc. (NYSE: JNPR) traded down about 7.1% Wednesday and posted a new 52-week low of $23.61 after closing Tuesday at $25.41. The stock’s 52-week high is $30.96. Volume totaled around 8.5 million, about double the daily average. The company had no specific news.
Healthcare Services Group Inc. (NASDAQ: HCSG) dropped about 13.7% Wednesday to post a new 52-week low of $35.04. Shares closed at $40.60 on Tuesday and the stock’s 52-week high is $56.20. Volume was about four times the daily average of around 1.2 million shares. The company reported weak results last night and the stock took a downgrade from Buy to Hold for Stifel Nicolaus. The price target was also lowered from $57 to $44.
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Paul Ausick has been writing for 247Wallst.com for more than a decade. He has written extensively on investing in the energy, defense, and technology sectors. In a previous life, he wrote technical documentation and managed a marketing communications group in Silicon Valley.
He has a bachelor's degree in English from the University of Chicago and now lives in Montana, where he fishes for trout in the summer and stays inside during the winter.
